Continuing efforts by Working Group on Intellectual Property Trading to explore policy and support measures

The Working Group on Intellectual Property (IP) Trading (the Working Group) is continuing with its efforts to explore specific policy and support measures to drive the development of Hong Kong as an IP trading hub in the region, said the Secretary for Commerce and Economic Development, Mr Gregory So, who is also Chairman of the Working Group.

At its sixth meeting today (September 10), the Working Group deliberated on the Government's current efforts and plans to enhance the local IP protection regime.

Mr So said, "A robust IP protection regime would facilitate the creation, protection, exploitation and transaction of IP rights, and increase Hong Kong's value and attractiveness as a marketplace to IP players in both local and international communities. 

"The Government has been making efforts to seek continuous upgrading of our IP protection regime to ensure that it is commensurate with the experience and practice of the international community." 

Two focus strategies have been identified to strengthen the local IP protection regime, namely (a) to develop an "original grant" patent (OGP) system in Hong Kong in parallel with the existing re-registration system, and encourage quality filings from Hong Kong, the Mainland and overseas; and (b) keep other components of our IP regime (copyright, registered design, trademarks, etc) under constant review to ensure that the system follows international norms on a par with the IP regimes of advanced economies, and conducive to IP trading.

 "The introduction of an OGP system bears strategic significance in facilitating the development of Hong Kong into a regional innovation and technology hub, as well as a premier IP trading hub. Subject to the progress of implementation work and legislative process, we aim at launching the OGP system in 2016/17 at the earliest," Mr So added. 

The Vice-Chairman of the Working Group, Mr Andrew Liao, said, "As part of the overall strategy to introduce the OGP system, we need to look into the future regulation of patent practitioners in Hong Kong. The Advisory Committee on review of the patent system in Hong Kong is seeking to engage professional bodies to explore possible interim measures to be launched together with the OGP system, before the full-fledged regulatory regime is ultimately put into place."

The Working Group also supports the latest developments of the copyright regime. "We need to update our copyright regime from time to time to keep pace with technological advancement and economic development. With the introduction of the Copyright (Amendment) Bill 2014 into the Legislative Council in June, we hope to conclude efforts since 2006 to catch up with mainstream development of many major overseas jurisdictions as soon as possible," Mr So said.

The Working Group will continue its work in earnest to promote Hong Kong as a regional IP trading hub.

Ends/Wednesday, September 10, 2014

Issued at HKT 18:24